Coldwell Banker Realty - The Basil Group

05/25/2026

As we mark the unofficial start of summer and begin to make plans for the months ahead, it’s important we also take time this Memorial Day to remember the brave service members who gave their lives serving our country.

Wishing you a reflective Memorial Day.

personal photo
Dan and Lisa Basil CRS,GRI
Real Estate Sales Executives
Coldwell Banker Realty
Licensed in MN
612-280-5046
612-280-5046

05/18/2026

The Pricing Mistake That Could Cost You Your Sale



Most sellers come into the market with one number in mind. And it’s often the one that costs them the most. That's their asking price.



A survey from Realtor.com shows about 8 in 10 (80%) of sellers expect to sell at or above their asking price today. But here’s where things get interesting.



In reality, only about 4 out of every 10 (roughly 40%) actually do.

That’s a big gap. And it’s where a lot of sellers get caught off guard. So, why the disconnect? And how can you set yourself up to be one of the 4 in 10 that get top dollar?

Let’s break it down.



What Should You Really Expect To Get for Your House?

That 40% may sound low at first, but it’s not.



If you look back to the last typical year for the housing market (2019), what we're really seeing is a return to what’s normal (see chart below). If anything, slightly more homeowners are able to sell above list price today compared to 2019:



It only feels low because the past few years were anything but typical. Between 2020 and mid-2022, buyer demand was sky-high and the number of homes for sale was at record lows. Almost everything sold over asking.



Now, the market has shifted.



There are more homes for sale. Buyers have more options. And that means they’re more selective about how they spend their money.



In other words, the rules have changed – and pricing like it’s still 2021 is where sellers run into trouble. You have to meet the market where it is if you really want to cash in big.



What Happens When a Home Is Priced Too High

Here’s the reality. It’s easy to think pricing high gives you room to negotiate. But it usually does the opposite.

When your home is priced above what buyers expect, in this market, they don’t negotiate. They move on.



Because buyers notice price first. And if your home doesn’t line up with similar options in your area, it may not even get a showing. And that’s when things start to snowball:



A high price gets less interest from buyers.
Less interest means fewer offers.
And fewer offers usually means more time on the market.


Take a look at this table from the Indiana Association of Realtors. While this data is from one state, the general trend is going to hold true across many markets in the country. It shows that homes listed at or under market value sell fast. But homes priced high? They linger. And that delay comes at a very real cost.



The Price Cut Trap (And How To Avoid It)

When a home sits that long without offers, a lot of sellers will do a price reduction. According to Realtor.com, 16.7% of sellers are going that route today.

But here’s the real problem. Even a price cut doesn’t guarantee a sale.



In fact, some buyers will see a reduction as a sign something’s wrong with the house – even when nothing is.



That’s why data from the National Association of Realtors (NAR) shows the longer a home sits, the bigger that price cut tends to be to attract buyers back:

So, what starts as a strategy to “leave room” for negotiate can end up costing you more in the long run.



Why Pricing Right from Day One Matters

Even though listing at or even just shy of market value may sound counter intuitive if you’re looking to get as much money for your house as possible, a lot of the time it really is the best strategy.



Because the goal isn’t just to list your house to see what price sticks. It’s to price it in a way that creates demand from day one.



NAR puts it best:

“While some sellers are pricing their homes higher than ever, a more ‘goldilocks’ frame of mind is a better approach to avoid price cuts and lingering time on the market.”



In other words, there’s a sweet spot. Too high, and buyers disappear. Too low, and they question the value.

But right in the middle? That’s where the magic happens.



And that’s where the right agent comes in.

They help you understand what buyers are actually paying right now, how your home compares, and how to price it so it stands out immediately. And in today’s market, that strategy is the difference between:



Listing high, watching it sit, and selling for less later.
Or, pricing it right, creating competition, and putting yourself in a position to win from the start.


Bottom Line

A lot of homeowners think they can list high now and negotiate later, but that’s a mistake that costs them. And it’s the reason only 4 out of every 10 sellers are getting their asking price or more.

If you want to be in that group, it starts with getting the price right from day one. Let’s connect so we can make sure you are.

04/25/2026

Wondering If You Should Still Buy a Home Right Now? Here’s What To Keep in Mind.

With economic headlines, global events, and near constant talk about affordability, you may be wondering if this is the right time to move. But here’s what you need to remember.

While recent events do have some impact on the housing market, they don’t take buying off the table. You just have to use a different strategy.

Mortgage Rates Have Been Up Slightly – Here's Why

After trending down for most of 2025, mortgage rates have been higher again for over roughly a month now. And experts say it’s a result of what's happening overseas and in the broader economy. As Mark Fleming, Chief Economist at First American, explains:

“Mortgage rates have recently moved higher, driven by geopolitical uncertainty and rising energy costs that are contributing to inflation concerns.”

But what does that really mean for you? Should you wait for everything to settle back down before you buy a home?

The short answer is no. You don’t have to wait.

Your Window To Buy Didn’t Close

It’s true that a month or so ago, when rates were just shy of 6%, buying felt a bit more affordable. And now that rates are hovering around the mid-6s, monthly payment costs are higher.

But zoom out for a second.

Let’s say you’re taking out a loan for $500k. Even with rates in the mid 6s, you’re still saving roughly $300 on your monthly payment compared to buyers who made their purchase early last year.

That means this recent increase in rates hasn’t erased the progress we’ve seen. Buying is still more affordable than it was just one year ago (see below):

Sure, your monthly payment would’ve been a little less expensive a few weeks back. But hindsight is always 20/20.

The goal moving forward shouldn’t be to perfectly time the market. Things change too quickly for that. Instead, the real goal is to make the best decision you can based on where things are today. And the best advice anyone can give is: brace for volatility.

When It Comes To Rates, Expect the Unexpected

Mortgage rates are going to continue to be move around in the weeks or months ahead as new information and economic reports come out.

Try to remember, you can’t control global events or where rates go next week (or even next month). But you can control how you prepare. If you do that, it becomes less about the headlines, and more about your situation.

If You Want or Need To Move, You Still Can

The simple truth is, if you want or need to move, you still can.

Some buyers are choosing to move forward right now because their needs haven’t changed. A growing family, a job relocation, a lifestyle shift – those things still matter.

And for buyers who do decide to move forward, there are ways to make it work.

For example, you could explore options like adjustable-rate mortgages (ARMs) to get a lower rate upfront. That may or may not be the right fit for you, but it highlights an important point: there are strategies that can help you move, even now.
What matters most is having a plan.

And working with the right agent and lender is a big part of that. With expert help, you’ll:

Understand your budget and what the math looks like at today's rates.
Explore your financing options, including ARMs and assistance programs.
Have trusted guidance from experts who'll keep you up to date throughout the process.

Bottom Line

Even though there’s some uncertainty, that doesn’t mean you’re out of options. If you need to move, you still can. Let’s connect so we can explore all your options and make your move happen.

Reach out:

Daniel Basil, Graduate of the Realtor Institute
Senior Sales Executive
Coldwell Banker - The Basil Group

O: (763) 550-3888 | M: (612) 280-5046
235 Lake St E | Suite 100 | Wayzata, MN, 55391
[email protected]
www.thebasilgroup.com
License #: 20153005

04/07/2026

03/13/2026

Who's thinking of making that move? Downsizing to maintenance free? Upsizing for expanding needs? Or, needing to sell in a complicated situation? Over the past 28 years, we've seen most of what other Real Estate Agents have not had a chance to see with challenges that come up in RE transactions. When there's 6 or more figures on the table with your sale, hire the experts.

20 years experience - save money and receive better service. Buying/Selling/Rental and property management service - Real Estate Agent in Plymouth. Call Now!

03/03/2026

With over 25 years of experience in the Twin Cities area, Dan and Lisa Basil provide Extraordinary Real Estate Services. As top listing agents, our goal is to guide you through the home sale process with little to no stress. This begins by listening. We walk through your home and provide a room-by-room list on exactly where you should focus for home staging. We want your house to be shown in its best light. Once a price is established,
we arrange for professional photography for our marketing materials. And then, it’s time! Showings begin and soon, a SOLD sign is in your yard!

If you are looking to purchase your dream home, we start by listening…really listening. Where do you want to be? How much are you qualified to purchase? Have you met with a mortgage lender to know what your price point should include? Then we shop the market for the perfect home for you. Live tours are fun! Let’s go shopping! These are exciting times...

With top negotiation skills, and a keen eye for design, always remember we are your #1 resource for a home!

We have set a high goal this year to help 50 of you to either buy or sell a home. Who do you know that needs our help in the next 30 to 60 days? Thanks for taking the time to think about it!

01/27/2026

Mortgage Rates Recently Hit a 3-Year Low. Here’s Why That’s Still a Big Deal.



If you’re one of the thousands of homebuyers waiting for rates to fall, you should know it’s already happening. And they recently crossed an important milestone. Rates officially dipped their toes into the 5s – something that hasn’t happened in about 3 years.



This moment marked a critical threshold. Now, rates are sitting in the low 6% territory. And expert forecasts project they’ll hover near this range throughout the year.



Here's why that’s so good for you.

Why Current Rates Are Such a Big Deal

A mortgage rate doesn’t just affect the interest you end up paying on your home loan. It shapes your entire buying experience.



When rates were up around 7% just one year ago, a lot of buyers felt priced out. Payments were higher. Budgets felt tighter. Affordability was a bigger challenge. That’s especially true for first-time homebuyers, who felt the biggest pinch.



But according to industry experts, that’s starting to change now that rates are slowly inching down. Let’s break down why.

Right now, borrowing costs are in their lowest range in almost 3 years. And that can change the type of home you can afford.

At 6% or below, you'll see:

Lower monthly payments. The payment on a $400k home loan is down over $300 compared to when rates were around 7%.
More buying power, thanks to the extra breathing room in your budget.


In other words, you can now make a stronger offer, purchase in a different location, or buy a home that checks more of your boxes. And that feels like a big shift compared to when rates were at 7%.



This Opens the Door for 550,000 Buyers

To drive home just how much this helps potential homebuyers like you, consider this research from the National Association of Realtors (NAR). It shows that when mortgage rates sit around this level, millions more households can afford a home. When rates are at 6% or below:

5.5 million more households can afford the median-priced home
And roughly 550,000 of those people will likely buy a home within 12 to 18 months


That’s not just speculation. That’s pent-up demand finally getting the green light they’ve been waiting for. You’ve got the chance right now to get ahead and buy before more people notice the game has just changed.



Because whether rates stay in the low 6s or dip back down into the upper 5s, the math is already working in your favor. And the difference from a low 6% to a high 5% isn’t as big as you may think. But the difference from 7% to 6%? That is very much a big deal, and it’s a number that’s already working in your favor.



An Important Call Out

Mortgage rates don’t operate in a vacuum. Home prices, local inventory, property taxes, home insurance, and your personal finances still matter. And a rate in this territory doesn’t mean every home suddenly works for every buyer. That’s why getting pre-approved and running your numbers with a trusted lender is key.



Still, this rate environment puts more buyers in play than we’ve seen in years. So, if buying didn’t work for you before, it’s worth taking another look.



Bottom Line

Mortgage rates dropping to a 3-year low isn’t just a headline.

For many buyers, where rates are now could be the difference between watching from the sidelines and finally getting the keys to their next home.



If you’ve been waiting for a sign to re-run your numbers and see what’s possible now, this is it. Let’s take a look at what today’s rates mean for your budget and your options.

12/13/2025

Unlock your real estate potential today by visiting our website. Discover valuable resources and expert insights that can guide you through your next property journey at thebasilgroup.com.

http://thebasilgroup.com

10/13/2025

A world of real estate possibilities is at your fingertips. Visit our website to learn how to maximize your potential in the market and find the perfect property for your needs.

10/03/2025

13983 62nd Ave N, Maple Grove MN. More info at basil1.com .